On the 21st, lawmakers from the ruling and opposition parties in the National Assembly's Special Committee on Pension Reform expressed concern over the depletion of the national pension fund and again ordered the relevant ministries, including the Ministry of Finance and Economy and the Ministry of Health and Welfare, to present a clear national treasury investment scenario and revenue stabilization plan.
Rep. Oh Ki-hyung of the Democratic Party of Korea, a member of the ruling party, said at a plenary meeting of the special committee that day, "Concerns about the depletion of funds are a basic problem for both the ruling and opposition parties," and ordered, "If it is possible and reliable to explain where national treasury investment is needed, the debate will stop. If the explanation is insufficient, the debate will continue, so the Ministry of Finance and Economy and the Ministry of Planning and Budget should think about it together."
He continued, “The most important purpose of the national pension is rate of return,” and emphasized, “We must continue to talk about whether we are making diversified investments that are most advantageous for rate of return and whether we are adhering to the standards for diversification.”
Rep. Kim Nam-hee of the same party pointed out, "The Ministry of Health and Welfare said that the projected end of the fund was exhausted by 15 years until 2071 due to the pension reform, and as of April of this year, it had been extended to 2083, but data from the Ministry of Planning and Budget shows that the fund is expected to be depleted in 2064. We need to come up with a responsible answer rather than asking how much investment from the national treasury will relieve the public's anxiety about the depletion of the national pension fund."
Rep. Ahn Sang-hoon of the People Power Party, a member of the opposition party, said, "During the last pension reform, the Democratic Party talked about investing in national treasury, and although they were against it in principle, they asked us to at least bring a scenario. If we say that we would inject national treasury, we should at least discuss whether it can be afforded. We need to get together with the financial authorities and explain to the special committee along with the financial management plan for the next 70 years, but each time they say something different and the numbers are different."
Rep. Kim Yong-tae of the same party also criticized Minister of Health and Welfare Jeong Eun-kyung, saying, "I asked her to submit a financial stabilization scenario, but she only received one line, 'The national financial situation needs to be considered,' and she has not submitted data for several months," adding, "It is a dereliction of duty for the 2030 generation."
Regarding the decision to postpone national pension rebalancing, Rep. Woo Jae-jun of the same party asked Minister Jeong, "What do you think about the criticism that it was intended to artificially boost stock prices before local elections?" and "Did you consult with the President's Office in making the fund operating committee decision?"
